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Exemption Debate Continues

March 16th, 2009 by flanews

The price of bibles, bottles of water, and Super Bowl tickets hangs in the balance as lawmakers continue to review cutting the tax exemptions on 50 goods and services.

Eliminating the tax loopholes could generate close to 400 million dollars in state revenues. It could also hurt the businesses that depend on the tax breaks. Eliminating the exemptions is gaining support from Democrats and the Senate, but House Democrat Scott Randolph said his chamber is more skeptical of the plan.

“I would rather close loopholes rather than close schools, and I don’t think the leadership in the House is on board with that,” said Randolph.

Monday marks the sixth week the House Finance and Tax Council has spent reviewing the exemptions.

Posted in Legislature, State Budget, State News, Taxes | No Comments »

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